Should I be submitting a return now for 2013 as a provisional tax payer?

  Written by Marc   Posted 25 March 2013

I've submitted my 2012 tax return last year as an individual taxpayer. After which I started freelancing midway through August. I was on a six month contract with my ex-company (which ended on 31 January) where they deducted the tax for me, but have also been doing work for other companies/individuals that I would have to pay the tax on. My question is, should I have submitted a return before the end of January to pay in at the end of March? If yes, what do I do now to stay tax complaint?

My Salary is R14700, My overtime is R4055.17, no benefits simply salary, what is my paye and uif?

  Written by Marc   Posted 25 March 2013

What should I get out in total after PAYE and UIF if my salary is R14700-00 and my overtime was R4055-17?

Tax return - UK income?

  Written by Marc   Posted 25 March 2013

I returned to SA following 7+ years in UK. I took up permanent employment in SA during June 2011 and am a residing tax payer on my SA income. Before returning to the SA I ran my own business through a limited company, paid corporation tax and in my personal capacity earned a salary (just below the "personal allowance threshold" which consisted of minimum salary allowance + dividends. Since returning to SA the UK company still received fee income from work I did prior to leaving the UK ...

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How does expat tax work?

  Written by Marc   Posted 24 March 2013

I will be leaving for Malaysia on 20 August 2013 for an undefined period but for at least three years.
So according to the SA-Malaysia double tax arrangement I will be a Malaysian tax resident and subsequently a South African non-resident for tax purposes.

Does the above still hold if, even though I will be working and earning income in Malaysia, I will be paid in Rands in South Africa i.e.my employer will pay me in my South African bank account for the work done in its Malaysia ...

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What form must I file with SARS, an ITR12 or an IRP6 ?

  Written by Marc   Posted 22 March 2013

I bought an appartment in April 2012 and rent it out. My total income (April 12 to Feb 2013) is R46,000 and my expenses (interest, levies, etc) are R41,000. Total income :R5,000 I haven`t registered myself as a provisional taxpayer. So what should I do for the 2013 Tax return ?
Should I reflected those number on my IRT12 ? or should I register myself on IRP6 ? or should I do both ?

How do I correct a mistake that I have made on my tax return that resulted in a penalty by SARS?

  Written by Marc   Posted 22 March 2013

I submitted my tax return for the 2012/13 financial year. I was requested to submit supporting documents, which I did. I was informed that I owe a sum of +-R16200 to SARS. It transpired that when I declared my medical expenses I included "cents" on my return. As a result of this I was penalised a sum of +-R162000 which I feel is unfair and unreasonable. How do I correct this?

Can I still get a tax rebate for 2011 -2012 tax year?

  Written by Marc   Posted 22 March 2013

my irp5 has the following figures R76545 GROSS SALARY - and R5319 TOTAL DEDUCTIONS(included UIF, SDL,) WILL I GET A TAX REFUND

I get R2000 petrol allowance, do I include this amount for travel allowance when I do my calculation

  Written by Marc   Posted 21 March 2013

I have a company petrol card that I use for R2000 per month.

How is company tax calculated?

  Written by Marc   Posted 20 March 2013

If a company has a turnover of R1 million on a specific month, cost of sales is R600 000, with a GP of R400 000, but overheads exceed that amount, is any company tax payable?

Income tax calculated and then?

  Written by Marc   Posted 20 March 2013

Hi TaxTim, I hope you can explain to me in simple terms the following. If one receives a gross salary of R20 000.00 with no contribution or allowance paid monthly, then your Income tax calculator calculates that my take home pay is R16 833.32. The R3017.95 PAYE and UIF of 148.72 is paid by my employer. Do I then have to again pay any tax on the R16 833.32 or is that done?

Do I need to pay TAX if my salary is R5500?

  Written by Marc   Posted 20 March 2013

Do I need to pay taxes if my salary is R5500 a month?

Medical aid expenses over the tax credit, can I claim?

  Written by Marc   Posted 18 March 2013

I incurred alot of medical expenses not covered by the medical aid last year and not sure if I will be able to claim them as a deduction in the upcoming tax returns due to the new tax credit method. Is the tax credit only applicable to medical aid contributions or all expenses incurred?

What type of business entity would be the most tax efficient for forex trading?

  Written by Marc   Posted 17 March 2013

I am considering doing forex trading professionally and would like to know what would be the best business entity to open a trading company from a tax perspective. The choices I have to my knowledge are a Sole prop or private company.

Your advice would be greatly appreciated.

Can you complete one return for both salary and provisional income or do they need separate returns?

  Written by Marc   Posted 17 March 2013

Is the provisional return a separate one to the salary return or can they be done together?

Provisonal Tax

  Written by Marc   Posted 17 March 2013

Good morning From the 2nd of may I will be retired and will only earn income by way of 2 pension pay-outs from different employers. Must I register to become a provisional tax payer.

I will be earning R300000 a year what will my tax be?

  Written by Marc   Posted 12 March 2013

I have been offered a job for R300000 a year what will my deductions be.Thank you for your help.Kind regardsVicky

What are the other ways I can pay SARS?

  Written by Marc   Posted 12 March 2013

Hi, I am not using eFiling - are there any other ways to make payment of my tax? I heard from my neighbour that you can take cash into a SARS branch or EFT them - are these options?Thanks!

Just want to confirm how to dispute SARS denying the wear and tear allowance on my laptop?

  Written by Marc   Posted 12 March 2013

SARS denied the wear and tear claim according sec 11 e for the laptop I had to buy myself and use at work 100% of the time, they said its denied according to sec 23m, but I'm sure that was incorrectly interpreted because it says except for..... and then refers to sec 11e?!

So do I contact them and say go study a bit and make sure of your facts or how do I go about this? Dispute and add sec 23 for them?

How do I go about getting a tax number?

  Written by Marc   Posted 12 March 2013

I am an SA citizen, and have just moved back after living in the UK for five years. I have never had a tax number. I am opening a small consulting firm and need a tax number to register my business with SARS. What information should I supply on page 2 of the IT77 form? Any advice on how I could go about getting myself a tax number then registering my business with SARS would be great?

Can I give myself a salary if I run a sole proprietor?

  Written by Marc   Posted 12 March 2013

I just need to find out if I can deduct a salary for myself as a business expense? please can you assist.

Spending 6 months out of SA. Will I have to pay tax?

  Written by Marc   Posted 11 March 2013

I am resident in SA, but from 2014 I want to try a new life whereby I spend 6 months (winter!!) out of the country each year. During this time I would be earning some money through freelance online work for various individuals or companies from various parts of the world, plus I would be getting rental income from two properties in South Africa. While in South Africa (during summer), I would continue this online work, and do some other ad-hoc freelance work for South African companies, or be ear...

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What can you do when you earn commission as well and want to get a tax return on commission?

  Written by Marc   Posted 8 March 2013

I earn a basic salary and commission, can you get an extra tax return on the commission as well?

What does it mean to pay tax on the information to a specific employer?

  Written by Marc   Posted 8 March 2013

As in: "employees who earn less than a certain amount pay income tax as a full and finial liability on the information to the specific employer"How do you pay tax on the information to an employer? What does it mean?

Can I be deducted for tax money every week without a payslip at the end of each month?

  Written by Marc   Posted 7 March 2013

I'm concerned because I'm being deducted for tax but I don't even have a payslip and I've been working for the company for more than a year

Tax return sms for a year, but I haven't even been working?

  Written by Marc   Posted 5 March 2013

Hi I received a message from SARS saying,"Thank you for filing your 2009 tax return Assessment Result: R-840 Account Balance: R-840 Selected for Audit: No" I'm confused as to what the R-840 means as I am not sure wether that means I owe them or if they're refunding me
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